latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Binance CEO Changpeng Zhao Asserts Crypto Doesn’t Need a Savior

Binance CEO Changpeng Zhao Asserts Crypto Doesn’t Need a Savior
Changpeng Zhao (CZ), the CEO of Binance, has called out what he refers to as ‘wrong narratives.’ He has rebuked portrayals of him by some in the community as the ‘savior of crypto.’

The collapse of FTX sent a shockwave through the crypto industry. Uncertainties remain about the future of crypto, especially when victims of the FTX contagion continue to tumble like dominoes.

The turmoil pushed Bitcoin well below the $18,000 price level, leaving questions about the viability and solvency of major centralized exchanges like Binance. During this debacle, Binance CEO Changpeng (CZ) Zhao increased his media presence, and some market participants even started to consider him the ‘savior of crypto.’

But does crypto really need a savior, even in these times of turmoil?

FTX Contagion Impacts

The FTX contagion put giants like the Digital Currency Group (DCG) in trouble. The DCG-owned lending arm, Genesis, is trying to keep bankruptcy at bay. At the same time, another exchange, BlockFi, filed for bankruptcy , and other exchanges halted withdrawals.

There have also been industry-wide layoffs so that companies could survive the bear market.

FTX was a rising competitor to challenge the dominance of Binance. But, with the collapse of FTX, Binance is one of the few big players in the industry.

Binance has recorded a 77% market share of all the centralized exchange (CEX) volumes. 

Changpeng Zhao, the Savior?

Zhao announced a $1 billion industry recovery fund to avoid the cascading effects of FTX and help strong projects that are in a liquidity crunch.

While some criticized Changpeng Zhao for being “self-serving and monopolizing the market for his own benefit,” others refer to him as a savior .

In a Twitter thread pointing out some ‘wrongful narratives,’ CZ mentioned that crypto does not need saving while adding, ‘that’s the beauty of decentralization.’

1 “CZ wants to be the savior of crypto.” Crypto doesn’t need saving. Crypto is fine. It’s the beauty of decentralization. We are just part of it. We want to help other good projects that may be in a cash crunch because of recent events. It’s in our collective best interest. — CZ 
.video-container { position: relative; padding-bottom: 56.25%; padding-top: 30px; height: 0; overflow: hidden; }
.video-container iframe, .video-container object, .video-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }
<script src= shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Read the full Article:  ⭲ Binance CEO Changpeng Zhao Asserts Crypto Doesn’t Need a Savior

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

SneakPeek Script
Setup, Upload and Go!